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Tanger Inc. (NYSE: SKT) is a prominent owner and operator of outlet and open-air retail shopping destinations, headquartered in Greensboro, North Carolina. Established over 43 years ago, Tanger has built a robust portfolio that includes 38 outlet centers, one adjacent managed center, and one open-air lifestyle center, comprising over 15 million square feet across 20 U.S. states and Canada. Renowned for offering first-quality, in-season merchandise, Tanger Outlet Centers attract over 180 million savvy shoppers annually, making them major tourist attractions.
Tanger Inc.'s business model focuses on providing the latest fashion trends from top brand names and designer outlets directly from manufacturers, ensuring consumers enjoy significant savings. The company's innovative approach to retail includes diversifying tenant mix and enhancing the shopping experience, leading to the operation of over 3,000 stores by more than 700 different brand name companies.
As a publicly traded Real Estate Investment Trust (REIT) since 1993, Tanger has been a pioneer in the retail outlet industry. The company continually adapts to market trends and consumer behavior, ensuring sustained growth and relevance in a competitive market. With a solid balance sheet, strategic partnerships, and a commitment to long-term growth, Tanger Inc. remains well-positioned to unlock additional value for all stakeholders.
Recent achievements include the amendment and extension of its unsecured lines of credit, enhancing financial flexibility and reducing interest expenses. Tanger has also been recognized with the 2024 Nareit Investor CARE Gold Award, highlighting its excellence in investor communications and transparency. Additionally, the company reported a positive financial outlook and operational metrics for the first quarter of 2024, including a 6% dividend increase and robust leasing activity.
Looking ahead, Tanger Inc. aims to continue its strategic focus on portfolio enhancement, tenant diversification, and innovative retail experiences. The company's proactive approach to financial management and investor relations ensures a strong foundation for future growth and value creation.
Tanger Factory Outlet Centers, Inc. (NYSE: SKT) announced that its 2021 dividend distributions will be categorized as a 100% return of capital. Shareholders are advised to consult tax advisors regarding the tax implications of these distributions. Key dividend details include record dates and payable dates for quarterly payments, with total distributions per share amounting to $0.7150. Each dividend for the year will contribute $0.0000 to ordinary income for shareholders, indicating no taxable dividend income reported for 2021.
Tanger Factory Outlet Centers, Inc. (NYSE:SKT) has declared a cash dividend of $0.1825 per share. This dividend will be payable on February 15, 2022, to shareholders on record as of January 31, 2022. Tanger operates 36 upscale open-air outlet centers across 20 states and Canada, totaling approximately 13.6 million square feet. The company has over 41 years of experience in the outlet industry, leasing to more than 2,500 stores featuring over 500 brand name companies.
Tanger Factory Outlet Centers, Inc. (NYSE: SKT) has announced its financial results for Q4 and the year ended December 31, 2021, set for release on February 17, 2022, post market close. A conference call for analysts and investors will follow on February 18, 2022, at 8:30 a.m. ET. Interested parties can join the call by dialing 1-877-605-1702 or accessing a live audio webcast on Tanger's Investor Relations website. The call replay will be available from February 18 until March 4, 2022.
Tanger Factory Outlet Centers (NYSE: SKT) announced the promotion of Leslie Swanson to Chief Operating Officer and the appointment of Andrew Wingrove as Chief Commercial Officer. Swanson will oversee operations, marketing partnerships, and specialty leasing, while focusing on creating new revenue streams. Wingrove brings 15 years of experience from brands like CLEAR and Delta to enhance customer experience and loyalty. The leadership changes aim to strengthen Tanger's market position amid evolving retail dynamics.
Tanger Factory Outlet Centers, Inc. (NYSE: SKT) reported a strong turnout during the recent Black Friday weekend, highlighting a significant rebound in shopper traffic compared to last year. With double-digit increases in visitation, Tanger outlets experienced filled parking lots and positive retailer responses. The brand showcased exclusive holiday deals and a festive shopping environment, offering a curated selection of trendy items and enhanced gift card options. The marketing strategy emphasizes immediate satisfaction for shoppers seeking bargains on brand-name products, making Tanger a go-to destination for the holiday shopping season.
Tanger Factory Outlet Centers, Inc. (NYSE: SKT) is partnering with The Elf on the Shelf for a festive holiday scavenger hunt at its U.S. centers from Nov. 8 to Dec. 24, 2021. This interactive experience aims to engage families during the peak holiday shopping season, encouraging visits to their locations. Guests can purchase scavenger hunt booklets online or at center services, unlocking a mission involving hidden Scout Elves and prizes. The initiative seeks to enhance the shopping experience by combining holiday fun with outlet shopping, positioning Tanger Outlets as a top family destination this season.
Tanger Factory Outlet Centers (NYSE: SKT) announced its Q3 financial results, showing a net loss of $0.11 per share amid strong leasing activity. Occupancy rose to 94.3%, with tenant sales reaching $448 per square foot, a 13% increase from 2019. The Company reported a Core FFO of $0.47 per share, up from $0.44 year-over-year. The balance sheet remains strong, with net debt to EBITDA at 5.3x. A dividend increase to $0.73 per share was also declared. However, a $33.8 million loss from early debt extinguishment affected profits.
Tanger Factory Outlet Centers, Inc. (NYSE: SKT) announces the return of its Tanger Pink campaign aimed at combating breast cancer, contributing approximately $18 million since 1994. This initiative promotes early detection and provides support for women diagnosed with breast cancer. Throughout October, shoppers can donate to receive a Tanger Pink Card for 25% off at participating stores, benefitting the Breast Cancer Research Foundation. The company has donated about $4 million to BCRF and will continue to support breast cancer research through various programs.
Tanger Factory Outlet Centers (NYSE:SKT) announced a 2.8% increase in its annual dividend to $0.73 per share, up from $0.71. The quarterly cash dividend of $0.1825 per share is payable on November 15, 2021, to shareholders on record as of October 29, 2021. Tanger operates upscale open-air outlet centers, with 36 properties across 20 states and Canada, totaling approximately 13.6 million square feet and hosting over 2,500 stores.
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